Tekhnopromexport, part of Russia’s state industrial conglomerate Rostec, has become the first Russian company to win a large, firm contract with Iran after the end of Western sanctions on the Islamic Republic.

Reuters cites business daily Kommersant as reporting that the company will build a coal-fired power plant with a capacity of 1.4 GW in the port city of Bandar Abbas.
Tekhnopromexport logo
The project is estimated to cost $1.12bn and will be financed through a Russian export loan.

The contract comprises the construction of four energy blocks – each with a capacity of 350 MW- and a seawater desalination plant with a capacity of 200,000 cubic metres of water per day.

The loan to be provided by Russia will cover 85 per cent of the project’s cost, with Iran to add the remaining 15 per cent.